Planet Money Summer School

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Jul 23, 2025 • 37min

Govt 3: You are what you pay for (Budgets)

Although it seems like the government can spend an endless amount of money, it cannot actually do all the things it wants to do. So the big question in this week's lesson is: How do we decide? Why does the government spend so much money on some things and not on others? And honestly, is there any limit?Get tickets to our August 18th live show and graduation ceremony at The Bell House, in Brooklyn. (Planet Money+ supporters get a 10 percent discount off their tickets. Listen to the July 8th bonus episode to get the discount code!)The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Always free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
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Jul 18, 2025 • 2min

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Act now to ensure public media remains free and accessible to all. Your donation will help this essential American service survive and thrive. Visit donate.npr.org now.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
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31 snips
Jul 16, 2025 • 37min

Govt 2: How taxes change behavior and the economy (Taxes)

Join Darrick Hamilton, Henry Cohen Professor of Economics and Urban Policy, as he discusses the powerful role of taxes in shaping behavior and economic structures. He explores how tax policies can lift people out of poverty and encourage sustainable practices. Hamilton highlights the transformative effects of the Earned Income Tax Credit on low-income individuals, contrasting it with traditional welfare. Dive into the concept of Pigouvian taxes and their potential to address issues like pollution, making economics relatable and engaging!
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7 snips
Jul 9, 2025 • 36min

Govt 1: Why Are Some Countries Rich and Some Countries Poor? (Institutions)

In this discussion, Simon Johnson, a professor at MIT Sloan specializing in political economy, unravels why some nations thrive while others struggle. He dives into the intricate relationship between government institutions and economic success, illustrating this with compelling stories from India, New York City, and Peru. Johnson emphasizes how regulations can either uplift or hinder economies, showcasing the stark contrasts between informal vendors in Jamaica and formal sellers in the U.S. His insights reveal the transformative power of inclusive institutions over extractive ones.
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Aug 28, 2024 • 33min

History 8: Big ideas and life lessons from Marx, Keynes and Smith and more

Join economic titans Adam Smith, a founder of capitalism; Karl Marx, the critiquer of capitalist society; and John Maynard Keynes, pioneer of macroeconomic thought, as they delve into vital lessons from economics. They discuss the dual narratives of human progress and environmental crisis over the last fifty years. From food security advancements to the fight for social justice, each guest brings valuable insights on wealth disparity and innovative economic theories, making it a journey through history and philosophy.
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28 snips
Aug 21, 2024 • 35min

History 7: The Great Depression, the New Deal and how it changed our economy

Delve into the transformative era of the Great Depression as it reshapes government and business relations. Discover the catastrophic stock market crash of 1929 and hear personal tales of struggle amid rampant unemployment. Learn how FDR's bold decisions shifted the economic landscape by dropping the gold standard, sparking confidence in banks. Explore the rise of labor unions through pivotal strikes and their lasting impact on wages and workforce empowerment. Finally, grasp the essence of fiat currency and Keynesian economics in modern financial stability.
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34 snips
Aug 14, 2024 • 36min

History 6: China, Taiwan and how nations grow rich

Explore the dramatic economic transformation of China and Taiwan from agricultural poverty to booming economies. Discover the pivotal Xiaogang experiment that sparked a shift toward capitalism in China. Learn how government strategies and individual incentives propelled growth, with Taiwan emerging as a semiconductor leader. Delve into the contrasting industrial policies and the cultural factors driving success in East Asia. Gain insights into the lessons these nations provide for future economic development.
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Aug 7, 2024 • 37min

History 5: 250 years of trade history in three chapters

Delve into 250 years of trade history, exploring everything from Adam Smith's revolutionary ideas in 'The Wealth of Nations' to the complexities of modern trade debates. Discover how trade shaped the early U.S. economy and the rising tensions between free trade and protectionism. Hear about Cordell Hull's advocacy for free trade as a means for global peace and the impact of tariffs on international commerce. Unpack the evolving views on globalization and the challenges faced by communities today, alongside the transformative effects of the World Trade Organization.
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Jul 31, 2024 • 37min

History 4: Banker vs president and the birth of the dollar

Dive into the tumultuous early days of the U.S. economy! Discover the fierce battle between President Andrew Jackson and banker Nicholas Biddle. Explore the chaotic landscape of over 8,000 forms of currency before the U.S. dollar took shape. Learn how the Civil War led to a standardized currency and the birth of national banks. Unravel the historical patterns of economic booms and busts that echo through to modern times, all while confronting the age-old dilemma of centralized control versus financial chaos.
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Jul 26, 2024 • 34min

History 3: The first stock and perpetual life

Discover the origins of the stock market in 17th-century Amsterdam, where small businesses transformed into trading giants. The episode dives into the life of Isaac Lemaire and his controversial financial tactics, including the invention of short selling. Learn how middlemen shaped early market dynamics and how Dutch innovations fueled modern finance. Explore the dual nature of financial exuberance and its effects on market stability. Uncover the significance of perpetual bonds and their lasting impact on economic trust.

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